JEC Jacobs Engineering Group Inc

Fluor Corporation (FLR) entered into a joint venture with a Scotland-based company, Turner Facilities Management Ltd. The Fluor Turner venture is formed to support operations of the armed forces of the United Kingdom (UK) in Afghanistan.

Together the two companies will carry out the ongoing work of the army in the country and achieve new contracts in infrastructure support and other contingency logistic opportunities for the Ministry of Defence (MOD). The infrastructure support services to be provided to the MOD include project management, property services and facility operations and maintenance expertise.   

Turner Facilities Management has 25 years of experience in providing support to operational areas of MOD, which coupled with Fluor’s supporting activity to the US military operations in Afghanistan and Iraq enhances performance efficiency for MOD.

Recently, Fluor also announced that it will be joining forces with Azima DLI to offer its oil, gas, chemicals, power, and mining and metals clients with a vibrant and complete resolution for fulfilling their industrial predictive maintenance requirements. The company primarily focuses on  the emerging economies and later it will serve clients other than those in oil, gas, chemicals, power, and mining and metals.  

Acting through its subsidiaries, Fluor Corporation is one of the largest professional services firms, providing engineering, procurement, construction and maintenance as well as project management services on a global basis.

It serves a diverse set of industries worldwide including oil and gas, chemical and petrochemicals, transportation, mining and metals, power, life sciences and manufacturing. It is also a primary service provider to the U.S. federal government.  The company’s prime competitor is Jacob’s Engineering Group (JEC).

We continue to maintain a Neutral rating on Fluor Corporation, with a Zacks #3 Rank (Hold recommendation) over the next one-to-three months.

 
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